Alaskas Permanent Fund Investment Manager

Private Income Infrastructure, Private Credit, Income Opportunities

Board of TrusteesExperienced and Responsive

APFC is a state-owned corporation, based in Juneau, that manages the assets of the Alaska Permanent Fund and other funds designated by law, such as the Alaska Mental Health Trust Fund.

Contributions: $41.6 B Unrealized Gains: $6.1 B

Realized Earnings $6.7 B Unrealized Gains $2.0 B

Realized Committed: FY21 POMV $3.1B, FY20 Inflation Proofing 0.6B, and FY20 Special Appropriation to Principal $4.0B

APFCs Board of Trustees Annual Meeting

The Board of Trustees reviewed the fiscal year 2019 (FY19) investment performance of the Alaska Permanent Fund (Fund) with presentations from Callan Associates and the Alaska Permanent Fund Corporations (APFC) asset class directors, approved a FY2021 budget proposal, and accepted the Annual Audit as presented by KPMG. As noted in the2019 Annual Report, released at the meeting, the Funds assets under management (AUM) reached an end of fiscal year high, totaling $65.4 billion as of June 30, 2019, comprised of $47.8 billion in the Principal of the Fund and $18.5 billion in the Earnings Reserve Account.

Callan Associates, APFCs performance consultant, noted that APFCs portfolio is well diversified across all major asset classes employed by institutional investors. In FY19 the Funds investments returned 6.32%, this strong performance puts the Total Fund in the second quartile relative to other large public funds, as well as other large endowments/foundations. As of June 30, 2019, the Funds long-term performance shows a cumulative return of 9.22% over the 10-year period and 6.35% over the 20-year period.

On September 20, 2019, APFC announced the launch of the Alaska Investment Program as directed by the Board Resolution 18-03 to establish an in-state private markets investment program utilizing external fund managers with an initial allocation of $200 million.  Chair Craig Richards notes that after a year in the making, he is excited that the In-State Emerging Manger Program is now in place and looks forward the programs two mangers, McKinley Capital Management, LLC and Barings, LLC., generating compelling returns for the Fund while raising capital in support of Alaska based private market investment opportunities.

The Board re-elected Trustee Richards as Chair and Trustee Brady as Vice-Chair.

The Board of Trustees reviewed the fiscal year 2019 (FY19) investment performance of the Alaska Permanent Fund (Fund) with presentations from Callan Associates and the Alaska Permanent Fund Corporations (APFC) asset class directors, approved a FY2021 budget proposal, and accepted the Annual Audit as presented by KPMG. As noted in the2019 Annual Report, released at the meeting, the Funds assets under management (AUM) reached an end of fiscal year high, totaling $65.4 billion as of June 30, 2019, comprised of $47.8 billion in the Principal of the Fund and $18.5 billion in the Earnings Reserve Account.

Callan Associates, APFCs performance consultant, noted that APFCs portfolio is well diversified across all major asset classes employed by institutional investors. In FY19 the Funds investments returned 6.32%, this strong performance puts the Total Fund in the second quartile relative to other large public funds, as well as other large endowments/foundations. As of June 30, 2019, the Funds long-term performance shows a cumulative return of 9.22% over the 10-year period and 6.35% over the 20-year period.

On September 20, 2019, APFC announced the launch of the Alaska Investment Program as directed by the Board Resolution 18-03 to establish an in-state private markets investment program utilizing external fund managers with an initial allocation of $200 million.  Chair Craig Richards notes that after a year in the making, he is excited that the In-State Emerging Manger Program is now in place and looks forward the programs two mangers, McKinley Capital Management, LLC and Barings, LLC., generating compelling returns for the Fund while raising capital in support of Alaska based private market investment opportunities.

The Board re-elected Trustee Richards as Chair and Trustee Brady as Vice-Chair.

The Fixed Income Plus portfolio acts as an anchor to the Fund and is comprised of Bonds, Emerging Market Debt, TIPS, REITs, and Listed Infrastructure. During volatile market cycles, these assets provide stability and a source of liquidity to take advantage of market dislocations. Trading isread more

The Public Equities allocation is comprised of U.S., International, and Global Stocks. The portfolio is actively structured to perform well in a variety of market environments, including positively trending equity markets and weaker market environments. The components of this.read more

Real Estate is an important component of the APFCs portfolio. The Alaska Permanent Fund Corporation has partial or complete ownership of 52 residential, retail, industrial, and office buildings in the United States and abroad. Every time APFC collects rent on these properties or sells one.read more

APFC invests in private (not exchange traded) holdings through theand theAbsolute Returnasset class.

Alaskas Permanent Fund Investment Manager

Private Income Infrastructure, Private Credit, Income Opportunities

Board of TrusteesExperienced and Responsive